Stocks may extend their post-tariff selloff on Friday after China retaliated with its own 34% duties on all U.S. goods, restrictions on rare earth exports, and other measures. Futures linked to the S&P 500, Nasdaq 100, and Dow Jones Industrial Average are all pointing to a lower open.

The Magnificent 7 stocks extend their slide on Friday, with Nvidia (NVDA) plunging 5% and Apple (AAPL) dropping 4.5% in premarket trading as of 7:50 a.m. EDT. Declines were almost 9% for Meta (META), 6.8% for Amazon (AMZN), 6.4% for Tesla (TSLA), 4.3% for Microsoft (MSFT), and 3.2% for Google’s parent Alphabet (GOOGL).

Shoe and garment makers extended their selloff as they face tariffs on their Asian-made products. Nike (NKE) fell 7.2% before the bell, Lululemon (LULU) plummeted 7.9% and Uggs-maker Deckers (DECK) plunged 6%. Energy companies, including Exxon Mobil (XOM), Chevron (CVX), and ConocoPhillips (COP) declined on recession fears.

Equities markets had their worst day in five years on Thursday as the S&P 500 plunged 4.8%, the Nasdaq Composite plummeted 6%, and the Dow Jones Industrial average shed 1,679.39 points, or 4%.

On Thursday afternoon, President Donald Trump showed no signs of backing down on his plans to impose tariffs that are more severe than expected.“It’s going very well,” he said, comparing the imposition of tariffs to surgery, and claiming “the markets are going to boom” along with the country.

Today, a government report may show that the U.S. labor market probably held up fairly well in March despite the federal government’s layoffs, the crackdown on immigrants, and surveys showing that consumers and businesses are increasingly anxious about the economy.

Employers may have added 130,000 jobs last month on a seasonally adjusted basis, down from 151,000 in February, according to the consensus estimate on FactSet, with the jobless rate set to increase to 4.2% from 4.1%. Growth in hourly wages probably held steady at 0.30%.

Fed Chair Jerome Powell is scheduled to speak on the economic outlook at 11:25 a.m. EDT. Other central bank speakers include Michael Barr — who will talk about AI and banking — and Christopher Waller.

Some stocks to watch today:

Blackstone

Blackstone’s (BX) stocks slid 5.7% in premarket trading. The investment company is considering selling two AirTrunk data centers in Australia for about A$2 billion ($1.3 billion) each to fund the Australian unit’s future growth, Bloomberg reported, citing people familiar. =

Constellation Brands

Constellation Brands (STZ), which makes, imports and distributes alcoholic beverages, reported sales and per-share profit that were slightly higher than the average analyst estimates on FactSet. The stock edged down 0.7% in premarket trading.

Exxon

Exxon stock fell 4.2% before the open. The energy giant may report a $2.7 billion gain in profit in the first quarter from the prior three months, with fuel manufacturing the largest contributing factor, Bloomberg reported, citing a company filing.

Guess

Guess (GES) stock 3.4% in premarket trading after plunging 11.8% on Thursday. The garment maker reported fiscal fourth-quarter sales and per-share profit that exceeded analyst expectations. The company’s guidance for fiscal first-quarter revenue also topped consensus.

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